A miniature replica of the May 2nd, 2011 drive by shooting was just completed, as silver was knocked down the proverbial mine-shaft moments ago, dropping nearly a dollar in nano-seconds on Monday’s Asian open.
Volume data indicates that 3,297 contracts, or 16.5 million paper ounces of silver were dumped on the market in a mere 5 minutes between 9:00 and 9:05pm EST.
In other words, approximately 1/2 of the entire US annual silver production was dumped on the market by the cartel in a 5 minute period on a Sunday night.
Silver was drifting under $34.50 prior to the raid which knocked .80 off the metal nearly instantaneously at precisely 9:00pm EST:
The t 1/2 of cartel raids dumping 6 month total US silver supply can now be measured in minutes, as silver is back above $34.
Gold was also knocked nearly $8 lower to $1761: